GE · Earnings call · 2026Q3T · Full report
Guidance / Outlook
GENERAL ELECTRIC CO · 2026-10-20 · Importance 85 · Surprise 76 · No source text
GE Aerospace raised its 2026 revenue-growth outlook to 19%–20%, compared with high teens previously, and increased operating-profit guidance to $10.9 billion–$11.0 billion. The company raised free-cash-flow guidance to $9.1 billion–$9.4 billion and EPS guidance to $8.00–$8.10, reflecting higher earnings and more than 100% conversion. Management expects low-double-digit commercial-services growth in 2027, supported by a commercial installed base growing low to mid-single digits annually, favorable work scopes, pricing, and elevated backlog. Management also indicated that DPT revenue should grow at a high-single-digit rate in 2027, while 2027 margins are expected to remain broadly in line with 2026 because of the GE9X ramp.
Key facts
- GENERAL ELECTRIC CO is raising 2026 total company revenue growth guidance to 19%–20%.
- GENERAL ELECTRIC CO now expects total company operating profit of $10.9 billion–$11.0 billion for 2026, up $300 million at the midpoint from prior outlook.
- GENERAL ELECTRIC CO now expects CES operating profit of $10.5 billion–$10.6 billion for 2026, up $250 million at the midpoint from prior outlook.
- GENERAL ELECTRIC CO expects approximately $5.5 billion of year-over-year commercial services revenue growth in 2026, up approximately $400 million at the midpoint from prior expectation.
- GENERAL ELECTRIC CO raised its 2026 EPS guidance to a range of $8–$8.10, up $0.30 at the midpoint.
- GENERAL ELECTRIC CO said it is set to close out 2026 with around $1.9 billion of profit growth and $1.6 billion of free cash flow growth.
- GENERAL ELECTRIC CO expects DPT profit of $1.6 billion–$1.7 billion for 2026.
- GENERAL ELECTRIC CO now expects CES growth of low 20s for 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +35.0% | GENERAL ELECTRIC CO expects approximately $5.5 billion of year-over-year commercial services revenue growth in 2026, up approximately $400… |
| revenue | positive | committed | +16.6% | GENERAL ELECTRIC CO is raising 2026 total company revenue growth guidance to 19%–20%. |
| operating_income | positive | committed | +12.1% | GENERAL ELECTRIC CO said it is set to close out 2026 with around $1.9 billion of profit growth and $1.6 billion of free cash flow growth. |
| operating_income | positive | committed | +1.9% | GENERAL ELECTRIC CO now expects total company operating profit of $10.9 billion–$11.0 billion for 2026, up $300 million at the midpoint… |
| operating_income | positive | committed | +1.6% | GENERAL ELECTRIC CO now expects CES operating profit of $10.5 billion–$10.6 billion for 2026, up $250 million at the midpoint from prior… |
| cash | positive | committed | +1.1% | GENERAL ELECTRIC CO said it is set to close out 2026 with around $1.9 billion of profit growth and $1.6 billion of free cash flow growth. |
| operating_income | positive | probable | +0.4% | GENERAL ELECTRIC CO said about $100 million of the CES operating profit increase is from a reduced impact from GE9X in the second half. |
| net_income | positive | committed | — | GENERAL ELECTRIC CO raised its 2026 EPS guidance to a range of $8–$8.10, up $0.30 at the midpoint. |
| operating_income | positive | committed | — | GENERAL ELECTRIC CO expects DPT profit of $1.6 billion–$1.7 billion for 2026. |
| revenue | positive | committed | — | GENERAL ELECTRIC CO now expects CES growth of low 20s for 2026. |
| revenue | positive | committed | — | GENERAL ELECTRIC CO now expects commercial equipment to grow low 20s in 2026. |
| revenue | positive | committed | — | GENERAL ELECTRIC CO expects DPT growth of low double digits for 2026. |